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Jim Wayne Acquires Multifamily Property In San Gabriel Valley For $3.3M

Property Image
SOLD
$3,300,000
Blake Torgerson

California

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MultiFamily11,734 SF
Sold 09/28/2021
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Property Image
SOLD

Jim Wayne Acquires Multifamily Property In San Gabriel Valley For $3.3M

1331 North San Gabriel Boulevard, San Gabriel, CA, USA

See Similar Deals
MultiFamily11,734 SF
Sold 09/28/2021
Blake Torgerson
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$281
Total Square Footage:11,734 SF
Transaction Type:Sale

A multifamily property located at 1331 N. San Gabriel Avenue in the San Gabriel Valley has been sold for $3,300,000. The transaction took place on September 28, 2021. The property consists of 12 units, with an average price per unit of $275,000. It spans a total area of 11,734 square feet, resulting in a price per square foot of $281.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,300,000
  • Address: 1331 N. San Gabriel Avenue
  • Market: San Gabriel Valley
  • Units: 12
  • Price per Unit: $275,000
  • Square Footage: 11,734
  • Price per Square Foot: $281

The buyer in this transaction is Jim Wayne, while the sellers are Kamal Narang and Kusum Narang. Eric Chen and Blake Torgerson represented the buyer, Jim Wayne, in the deal. On the other hand, the sellers, Kamal Narang and Kusum Narang, were represented by Eric Chen and Joyce Goldstein.

Players

Blake Torgerson
48 deals$286.1M volume(714) 222-0696
BROKER

Eric Chen
CBRE
108 deals$886.6M volume(626) 757-5717
BROKER

Details

SOLD
IMAGE: Eric Chen & Blake Torgerson DATE: 09/28/2021 ADDRESS: 1331 N. San Gabriel Avenue MARKET: San Gabriel Valley ASSET TYPE: Multifamily BUYER: Jim Wayne SELLER: Kamal Narang & Kusum Narang BUYER’S REP: Eric Chen (@Eric_C_Chen) & Blake Torgerson (@BlakeTorg32) SELLER’S REP: Eric Chen (@Eric_C_Chen) & Joyce Goldstein SALE PRICE: $3,300,000 UNITS: 12 ~ PPU: $275,000 SF: 11,734 ~ PPSF: $281

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$175,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,724.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,643.68
Annual Debt Service$187,724.20